Manning & Napier Advisors LLC Makes New $386,000 Investment in Intercontinental Exchange Inc. $ICE

Manning & Napier Advisors LLC acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,137 shares of the financial services provider’s stock, valued at approximately $386,000.

A number of other institutional investors and hedge funds have also modified their holdings of ICE. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange in the fourth quarter worth $25,000. Rakuten Securities Inc. bought a new stake in Intercontinental Exchange in the 2nd quarter valued at $26,000. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange in the 4th quarter valued at $28,000. Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $30,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $161.93 on Wednesday. The firm has a market cap of $90.90 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $179.20. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $143.22 and its two-hundred day moving average price is $151.53.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 earnings per share. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 7,300 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the transaction, the senior vice president owned 19,063 shares in the company, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the transaction, the chief technology officer directly owned 67,988 shares in the company, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,227 shares of company stock valued at $2,598,301 over the last quarter. 0.84% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on ICE. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. UBS Group reaffirmed a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen reiterated a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Barclays reissued an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.